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    Breaking News

    Evonik Venture Capital Invests in East Coast U.S. Fund to Access New Technologies

    Fund investment enables access to regional disruptive technologies in Evonik growth engines.

    Evonik Venture Capital Invests in East Coast U.S. Fund to Access New Technologies
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    07.29.19
    Evonik is extending its corporate venture capital activities in the U.S. with an investment into Tech Council Ventures II. Evonik is investing a single-digit million U.S. dollar amount. Tech Council Ventures is a U.S.-focused early-stage investor. It finances young, innovative start-up companies and actively supports them with their extended network in the Mid-Atlantic region on the east coast of the U.S.

    The fund is based in New Brunswick, New Jersey, near Evonik’s U.S. headquarters in Parsippany and will enable access to a local network of technology start-ups including academia and industry. The Mid-Atlantic States of New Jersey, Pennsylvania, Delaware, Connecticut, Maryland, Virginia and New York represent the second-largest venture-capital market in the country. In the U.S., Evonik Venture Capital is represented by Lutz Stoeber and Eric Breese, who are responsible for Evonik’s venture capital activities in North America.

    "Fund investments are an important part of Evonik’s venture capital activities,” said Bernhard Mohr, head of Evonik Venture Capital. “The partnership with Tech Council Ventures enables us to get in touch with a broad range of innovative start-ups that are located near our North American headquarters and will provide us with an excellent overview of new technologies in that region.”

    “The investment underlines our commitment to the region,” added John Rolando, president of North America for Evonik. “We see ourselves as a collaborator to foster entrepreneurship and strengthen local ties.”

    Tech Council Ventures II focuses on areas that have a close fit to Evonik’s growth engines, areas which the company has identified as promising fields for future growth and development. The fund invests in start-ups in the fields of materials, life sciences, healthcare, internet of things and energy.

    Evonik Venture Capital plays a strategic role in Evonik’s goal to become a best-in-class specialty chemicals company, by helping secure access to disruptive technologies and innovative business models as well as supporting digital transformation. To this end, Evonik launched its second venture capital fund with a volume of €150 million at the beginning of 2019, more than doubling the amount under management to €250 million.
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    Exterior Applications Account for 75+% of Global Demand for Aerospace Coatings: PMR Exterior Applications Account for 75+% of Global Demand for Aerospace Coatings: PMR
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    Defoamers Market Worth $6.59 Billion by 2021 Defoamers Market Worth $6.59 Billion by 2021
    Oxea Increases Alcohols, Acetate Esters Prices in North America, Mexico Oxea Increases Alcohols, Acetate Esters Prices in North America, Mexico
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    INEOS Acquiring Cristal INEOS Acquiring Cristal's North American Titanium Dioxide Business from Tronox for $700 Million

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